New Delhi, Feb 9 (KNN) In a bid to push the exports of the country, the government is in the process of exploring the possibility of enhancing the rate of subsidy from 3 per cent 5 per cent on credit provided to the Micro, Small and Medium Enterprise (MSME) Exporters.

Alok Vardhan Chaturvedi, Directorate General of Foreign Trade (DGFT) in a press interview said that the Commerce Minister Suresh Prabhu has raised the concern with the Finance Ministry to increase the subvention rate.

A final decision along the line is yet to come.

Chaturvedi further said that in the Union Budget 2018-19, the government has increased the allocation for interest equalisation scheme from 1000 crores to 2500 crores.

Under the equalisation scheme, the government provides 3 per cent interest subsidy to all MSMEs and labour intensive export sectors.

Earlier, Finance Minister Arun Jaitley said that the exports are to follow a positive trajectory, hit a 15 per cent growth mark while presenting the union budget. (With inputs from a media report) (KNN/DA)